hi everyone. welcome to on the money. i'm becky quick. new highs for the market. what the feds said and how the unrest in iraq affects your money. the one thing the phone did does really well. it's show time at the apollo. how the rio grand reinvents itself. glad disremembers where she got her start. can you trust online review sites? how to make sure you don't get fooled when you book the hotel or online reservation. "on the money" starts right now.

now becky quick. here's a look at what's make news as we head to a new week. the fed speaks, market smiles. what are worries about inflation? after the fed 's two day meeting u janet yellen held the news conference and said inspite of a jump in recent prices, he's not concerned with inflation. it would keep interest rates low until 2015. the markets like what had they herd. s&p 500 hit a new record thursday. dow rising triple digits hitting a new high by friday. a bit of earning news to report for you. fedex beat expectations. blackberry has a smaller than expected. the average fixed 30 year rate is near historic lows. a quarter of a point higher than this time last your. drum roll please. the world's busiest airport for

international travel is -- well not london, not hong kong. it's dubai. 67 million passengers last year passed through the airport. that's within eight hours of flying distance of two two thirds of the world's populat n population. iraq oil prices and fed don't seem to bother the market. danny joining us now. thanks for being here. we are watching the market sitting at new highs seems everyday. it's almost a melt up situation. i wonder why do you think this is happening? do you think it can continue? >> i think it can continue. the reason it's happening is because there's nowhere else to go. there's nowhere else to get the kind of returns than the u.s. in the stock market. unfortunately it's becoming a problem. with the fed talking about slashing growth rates for the u.s. this year and at the same time dialing back their agenda with respect to bond buying another $10 billion for the

month, we've got mixed messages out there. i think the real trick is cutting that umbilical cord with the fed safety net. when it does happen -- going to happen within maybe 18 months or so. >> i was surprised the fed didn't take more of an opportunity to at least acknowledge the inflation we've seen. cpi, consumer price inflation was hot this week. the idea they brush had the off. market looked at that as the fed is never going to raise rates again. is that the right way to look at this? >> no. they got mixed messages with the ppi. prices like coffee were dialled back a little. it's been choppy. the fed is in a tricky position because no matter what they say, they could overreact the market in one way or another. unfortunately it's been going in a manner when they do finally have to take action and raise rates, talk about raising rate,

say a word the wrong way, the market will react. >> market players say there was an opportunity for fed to maybe # put in a little bit of concern, caution, they didn't take that chance. as a result when they do have to say we're going to be raising rates, it's going to come as a serious shock and surprise to the markets. do you worry about that? of course. i worry about a lot. i'm a mom and consumer. there's a lot to worry about. and a business owner as well. i think that trepidation is what people who are investing in the market and maybe staying close to the vest right now are thinking about. but you know the fact is the risk has been to not be in the market. if you're not in the market you're taking the greatest risk of all. >> we've seen individual investors come back. last we're e 30% gains in the markts it's hard for people to continue to ignore that. do you worry the people getting in now are coming in at a top?

is this a sign everybody is talking about stocks, looking at them again? is that a sign of the top? >> we hear a lot of chicken littles hearing people say the sky is falling. i think it will eventually. think about the loan game. when you're investing, it's 20 to 30 to 50 years top. bring wealth to your children and family. looking at blips as opportunities which is hard to do in the middle of it. if we had a hindsight view of 2008 and 2009 and take advantage like mr. buffett and mr. icon did, we'd look at that as an opportunity. >> we've come a long way since 2008 and 2009. what are you telling investors now? >> we have some on the side.

we're looking at long term growth. baby boomers are aging getting to retirement. that means health care sector will be hot years to come. energy as well. that's always a giant concern. these are global issues. >> do you think the downturns will come from the fed and other central banks making move and misstep or political tensions like what we're seeing in iraq? >> both. it's anybody's guess becky. both things i think we're watching. we're watching both of those play out in iraq. >> i'm a mooized iraq hasn't had more of an impact. obviously oil prices but not the stock market. >> you don't. you see now oil is around the $125 a barrel level. the risk is that it could dramatically increase prices in the summertime expansion for people traveling. all of those -- oil, gas, jet fuel, they've been expanding dramatically. then again you have the interest

rate risk. you see gold rise. the big rise in gold the past week. >> that's right. thanks for coming in. >> thanks becky. up next "on the money." we look at the tech giant's latest inno vagvationinnovation. is it prime for success? and later, can the apollo theatre which discovered stevie wonder and others find a lucky break in the new age of digital music? as with head to break, look how the stock market ended the week.

can we build a better phone for amazon prime numbers?

i'm excited to tell you the answer is yes. >> the amazon ceo with showmanship showing the july release of the fire phone. that's the offering from the largest online retailer. the question is, will it catch on with consume hers? coexecutive editor of recorrode, thanks for jo -- recode. thanks for joining us. what do you think? is this a risk? home run? you are the man that knows about these things. i'll take your word. >> i've had a number of conversations with folks at amazon. i have a caveat which is that i have not gotten the phone to do put through the paces and live with it for a while and do an in-depth review. that will come closer to the ship date next month. but i do think they have a chance. i think there's sort of the

conventional wisdom that they would build a piece of hardware strictly to get you to buy stuff on amazon. certainly this phone has features that are totally aimed at that. they don't deny it. but this is not an inexpensive, cheap, me too phone. they have actually put several years of serious engineering effort. in talking to them and looking at product, i have to say they are serious about the phone in and of itself. sure they want you to shop on it, but they think there's a possibility that they can become one of the big smart phone makers. >> you know, walt i was skeptical when i heard about this. the idea of using it to shop online. i thought who's going to use it to shop online. i was impressed with streaming music, unlimited photo storage,

almost 3d screen. i was impressed when i saw those things, but then i read a piece that questioned the economics. they thought amazon should have gone after the low end consumer to draw amazon in more. what do you think was the scale, going high end or low end? now they're competing with the iphone head on. >> i think it depends on what you imagine their goal is. if their goal is strictly just to get more people shopping on their stores, then they would have gone for the low end. might have even lost money. jeff said in the past they have occasionally lost money on hardware or certainly made very little. this is one of the clues they're serious about smart phones, premium smart phones. building in features making its easier to buy stuff from amazon whether diapers or digital tv shows. that's part of it.

the other part of it is they really kind of think there could be a moment here, seven years after the iphone came out, a different way of navigating the phone and other features and access to their huge catalog and whole prime program may combine to give them a shot at muscling into what is really a due opply now. people are writing they should have done this, should have done what i speculated they were going to do -- i mean really becky. that's what this is. it's true with all tech products. people put out a bunch of speculation. when the thing -- it happens with apple, happens with google. when the product is different from what they speculated they say oh, no one is going to buy it. >> they didn't do what i thought.

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. apollo theater is celebrating 80 years of musical legacy. stars are born and legends are made. those are the likes of plait michael jackson, james brown and fits joerld. today is the no longer cultural phenomenon it once was, but can it reclaim the act it once did? >> what do all stars have in common? >> show time at the apollo tonight. >> precursor to talent shows like star search and american idol turns 30. apollo night launched stars in music, dance and comedy and catapulted this theater to the heights of american pop culture. >> i get goosebumps sitting.

what do you think america thinks when they hear apollo theater? >> it means the launch of careers of pretty much anybody that was in show business. fit fitzgerald, armstrong, jackson brother. >> was it true luther was booed on this stage? >> he was booed. one of our tag lines is be good or be gone. >> if someone said wayne, we want you to participate as an amateur just to do it, i would be scared out of my whits. >> if you could make it here, you could mike it anywhere. rubbing this stump is a tradition that goes back as far as amateur night itself. >> the tree of hope is a tree that stood out side the lafayette theater.

the folk lords that formers stood here wondering if they were going to get work that night. you've got to rub it becky. rub it. they all rub it. it brings good luck. >> after decades of success, the bright lights of the apollo began to fade. the civil rights movement ushered in integration at the time large arenas gained popularity. trends that spelled trouble. >> acts we depended on no longer had the desire to be here. there was a lot of competition. the theater basically became black. it fell on hard times and went into bankruptcy. >> in 1991 the state of new york acquired the apollo theater and converted it to a non for profit organization. that didn't solve the money woes. the theater no longer held the same cloud it once had. >> anything musical, transport to take it to another place.

>> how is the apollo celebrating the 80th anniversary? former city and time warner chairman played a role in reviving the theater. the board of directors headed by parsons, a multimillion dollars operation. >> you're an expert at corporate turn arounds. how far along do you think the apollo is at 24 this point? >> we have to create a new feature. that's the part that's a work in process. we're more than half way there. >> you have pearlman and quincy jones. how did you bring those people on board? >> virtually everybody i asked to join the board said yes. it was amazing. >> if getting all guys to join the board was the easy part, what's the most challenging issues you face? >> it's tough to raise money in this environment. the process of rebranding saying

we have something new and different to offer. >> aiming to re-establish itself as a leading music venue, it draws over 100,000 to performances each year. >> we're no longer just a concert venue but a performing arts venue and a global performing arts venue. that's what i see us when i think of the future. for example we premiered something called get on the good foot. it was a celebration of james brown and dance in the fall. the music cafe is an opportunity for young artists to work outside the main trestream to perform. >> what do you do when the apollo theater turns 80? >> normally we induct a legendary artist into the hall of fame.

this year we thought we should celebrate. artists are coming back to pay tribute to its history and impact on american popular culture and music. >> is it really something special to be here for the 80th anniversary? >> absolutely. it's lasting. whatever they gave us they applied to the theater. we're still here, and they're still here. >> as long as there's talent, there should be apollo. >> thanks to the apollo dick parsons and jill poll co. for more information, check out our website,otm.cnbc.com. up next, a look at the news for the week ahead. when following the advice from online review sites can help and hurt. we're weighing the wisdom of the crowds. this is a view...

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welcome back everybody. we're on twitter. we hope you'll follow us. @on the money is our handle. here are the stories that may impact your money. we'll get earnings reports from carnival, nike and walgreens. tuesday the case shiller price index is out. that tells us the housing market in 20 city across the united states. we'll get yahoo shareholders gathering in california. gopro is set to start trading on the nasdaq.

if you're booking a last minute summer get away, buying a grill or trying to find the best outdoor cafe in your neighborhood you may check for online reviews. how do you know if that information is reliable? sharon is here with her own review. i wonder how you know an online site is trustworthy. >> most assume it is. most rely on online review as much as personal recommendation. most go with that saying if they see one they're going to buy the product. a lot of folks believe they're trustworthy. one way to rate them. we looked at some of the most trusted sites from research. at the top of the list was trip advisor. i don't know if you looked eight. >> i've used a lot of these. >> ed munds.com trying to buy a new car. there's open take for

restaurants as well for the top five. there are a number of restaurants. because they're on that trusted list doesn't mean they haven't had complaints about them or necessarily even if some cases lawsuits. >> i've had companies, business owners complain to me saying the bad reviews on my site are from my competitors to make me leake worse in the eyes of the public. >> definitely check out the review. see if you can find out if they've written other reviews. >> check the person that wrote the nasty review or good review. >> good or nasty review. also if they're one time reviewers, be weary. see if they have some type of track record before you want to trust them. the other thing is make sure you look at at least a dozen or so reviews. trip advisor said most customers do that. not just one site. look at multiple sites and a dozen reviews over multiple sites. be weary of similar wording. sometimes they cut and paste. they may be a paid blogger.

anything that's overly negative, i discount those. >> what do you do if you spotted a fake? >> try to see what you can do in terms of checking out the reviewer. verify if they've purchased the product. some sites like amazon.com you know the person has bought the product or book before they did the review. that's one step. go to a third party like better business bureau and consumer reports in terms of looking at that site. if you think you've seen a fake, go to federal tried commission and report it. >> thanks. that's the show for today. i'm becky quick. thanks for joining me. each week we're here "on the money." i'll see you next weekend. bulldog: ah, the dog days of summer!

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